'Pakistan, Iran can strengthen economic relations'
12 February, 2013
ISLAMABAD: Pakistan and Iran can explore to strengthen economic cooperation particularly in the field of capital market.
This was stated by Islamabad Stock Exchange (ISE) Chairman Muhammad Rashid Zahir during a meeting with a delegation of Securities and Exchange Organisation (SEO) of Iran and Tehran Stock Exchange (TSE) at ISE on Monday.
The delegation comprised SEO Board Member and Deputy for Supervision on Financial Institutions Dr Ghasem Mohseni, SEO Head of Bureau for Inspection of Financial Institutions Mehrdad Farahabadi and TSE Board Member and Deputy for Issuance Mohammadreza Arabi.
Zahir said that both the countries have long historical and cordial relationship of co-existence.
ISE Managing Director Mian Ayyaz Afzal gave a detailed presentation on ISE affairs and initiatives taken by the exchange.
Afzal also explained about the composition of the board and other impacts of demutualisation on the ISE and the capital market of Pakistan. He explained implementation mechanism of code of corporate governance for listed companies.
He also highlighted the sophisticated features of Islamabad Electronic Exchange System as developed by the exchange in the recent past.
The chairman and Demutualization Committee Chairman Syed Mukhtar Hussain Jaffery replied to the queries of the visiting delegates about the capital market in general and ISE in particular.
The chairman briefed the role and performance of credit rating companies in Pakistan. Jaffery explained the criteria for strategic investor, as outlined in the demutualisation regulations.
In order to enhance the business cooperation including possibility of cross boarder listing and trading, the representatives of two exchanges also discussed the possibility of signing Memorandum of Understanding.
The ISE chairman assured the visiting delegation full cooperation of ISE and vowed to work more closely for mutual benefits.